Brookfield Corporation $BN Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of Brookfield Corporation (NYSE:BN) by 2.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 853,730 shares of the company’s stock after selling 19,964 shares during the period. Pictet Asset Management Holding SA’s holdings in Brookfield were worth $34,484,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. MCF Advisors LLC acquired a new stake in shares of Brookfield during the 4th quarter valued at $26,000. Quattro Advisors LLC acquired a new stake in shares of Brookfield during the fourth quarter worth $26,000. Exchange Traded Concepts LLC acquired a new stake in shares of Brookfield during the fourth quarter worth $27,000. Truvestments Capital LLC lifted its holdings in shares of Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Finally, Hilltop National Bank increased its stake in Brookfield by 49.9% in the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Up 1.2%

BN stock opened at $42.63 on Wednesday. The company has a 50 day moving average of $45.09 and a two-hundred day moving average of $44.69. The company has a market cap of $104.50 billion, a price-to-earnings ratio of 83.60 and a beta of 1.53. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is currently 54.90%.

Analyst Ratings Changes

BN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Morgan Stanley restated an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Scotiabank reaffirmed an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Scotia lifted their price objective on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Finally, TD Securities restated a “buy” rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $56.82.

Brookfield Company Profile

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.